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Sensex recovers, Nifty hits 7850; Infosys at new high

Oct 13, 2014, 01.18 PM IST | Source: Moneycontrol.com

Infosys topped the buying list, up 2.2 percent to hit a record high of Rs 3,975.50 after brokerages raised target price on the stock on strong Q2 earnings.

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Sensex recovers, Nifty hits 7850; Infosys at new high

Infosys topped the buying list, up 2.2 percent to hit a record high of Rs 3,975.50 after brokerages raised target price on the stock on strong Q2 earnings.

13:18

The News International Team

Sensex recovers, Nifty hits 7850; Infosys at new high

Equity benchmarks recovered in afternoon trade supported by metals, technology and select banking and financials stocks. The Sensex declined 27.94 points to 26269.44 and the Nifty slipped 5.55 points to 7854.40.

About 1207 shares have advanced, 1473 shares declined, and 108 shares are unchanged.

Dipan Mehta, member, BSE and NSE sees the market moving in a narrow band, which is not good for any bull market.

He has a negative to cautious outlook on the market. He cautions investors not to conclude that support will be at 7800. He says global headwinds and domestic macro numbers will play on the minds of the investors and traders.

Infosys topped the buying list, up 2.2 percent to hit a record high of Rs 3,975.50 after brokerages raised target price on the stock on strong Q2 earnings. TCS, Axis Bank, Hero Motocorp, Tata Steel, Coal India and Tata Power gained 1-2 percent followed by HDFC, SBI, Hindalco Industries and Sesa Sterlite with 0.4-0.9 percent upside.

However, Cipla, Bharti Airtel and Mahindra and Mahindra kept top position in the selling list, down 2-4 percent. L&T, ITC, Dr Reddy’s Labs, Sun Pharma, NTPC and Wipro slipped 0.5-1.8 percent.

12:00

Sensex, Nifty trim losses; M&M, DLF fall further

Utility vehicle maker Mahindra and Mahindra, and realty major DLF slipped further, down 3.7 percent and 5 percent, respectively. Shares of ITC, L&T, ICICI Bank, Tata Motors, HDFC Bank, Bharti Airtel, ONGC, Cipla, Sun Pharma, Dr Reddy’s Labs and NTPC declined 0.7-2 percent.

Read More »

11:00

Sensex & Nifty weak; pharma, private banks, auto declineRead More »

Infosys gained another 1.4 percent as brokerages increased target price on the stock. Barclays raised its target from Rs 3,800 to Rs 4,650 as new CEO’s plan to embrace newer technologies such as automation and AI to drive growth, is a step in the right direction.

Read More »

10:00

Nifty holds 7800 amid pressure; Infosys, TCS, Hero shineRead More »

Infosys, TCS and Hero Motocorp outperformed, up over a percent. State Bank of India, Axis Bank, Tata Steel and Hindalco Industries traded with marginal gains.

Read More »

09:15

Nifty breaks 7800, Sensex falls 180 pts; Tata Motors dropsRead More »

Bharti Airtel, Sesa Sterlite, Hindalco Industries, BHEL, Larsen and Toubro, DLF and Jindal Steel lost 1.5-2 percent. However, Infosys gained further, up over a percent followed by Reliance Industries, Sun Pharma, Hero Motocorp, BPCL, IndusInd Bank and Lupin with marginal gain.

Read More »

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